Coeur d’Alene Mines Corporation (NYSE:CDE) (TSX:CDM) reports that the Company’s Palmarejo silver and gold mine in northern Mexico is operating at full capacity following a regrettable fatal accident at the mine late Sunday morning, August 26, 2012. Production resumed yesterday morning. The Company currently does not expect any change to its 2012 silver and gold production guidance at Palmarejo.
Underground operations at the Palmarejo mine were suspended following the accident, and have now resumed. The open pit mine and milling facilities have remained in operation. The Company is working with the appropriate authorities to complete a full investigation of the incident.
The Palmarejo Mine is located 420 kilometers by road southwest of the state capital city of Chihuahua and 15 kilometers northwest of the town of Témoris.
Cautionary StatementThis news release contains forward-looking statements within the meaning of securities legislation in the United States and Canada, including statements regarding anticipated production levels at the Company’s Palmarejo mine. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Coeur's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, any failure or delay in obtaining required governmental approvals, the risks and hazards inherent in the mining business (including environmental hazards, industrial accidents, weather or geologically related conditions), changes in the market prices of gold and silver, the uncertainties inherent in Coeur's production, exploratory and developmental activities, any future labor disputes or work stoppages, the effects of environmental and other governmental regulations, the risks inherent in the ownership or operation of or investment in mining properties or businesses in foreign countries, as well as other uncertainties and risk factors set out in filings made from time to time with the United States Securities and Exchange Commission, and the Canadian securities regulators, including, without limitation, Coeur's reports on Form 10-K and Form 10-Q. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Coeur disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, Coeur undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Coeur, its financial or operating results or its securities.
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